International
Party City To Close Its Stores As Company Files for Bankruptcy
UNITED STATES – After nearly 40 years of celebrations, Party City is closing its doors.
UNITED STATES – After nearly 40 years of celebrations, Party City is closing its doors.
The retailer announced Saturday it’s shutting down nearly 700 stores and winding down operations after filing for Chapter 11 Bankruptcy for the second time in two years.
According to the company, rising costs, slowing demand, and competition from Walmart, Target, and pop-up stores like Spirit Halloween proved too much to overcome.
Party city says over 95% of its 12,000 employees will stay on to assist with the closures.
Going-out-of-business sales are already offering up to 50% off.
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